cancel
Showing results for 
Search instead for 
Did you mean: 

Amazing Sofi loan approval and correct information vs whats out there

Estimate your FICO® Score range for free

FICO® Score Estimator

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Frequent Contributor

Amazing Sofi loan approval and correct information vs whats out there

I wanted to get a personal loan to add a mix of credit to my report since I’ve never had one and to do some debt restructure on some cards.  I first applied for a Citizens One Personal loan since I got a pre-qual rate of 8% at 4 years for $12,500. They pulled Equifax with my credit score of 802 and was denied due to insufficient credit history. At the time Cap1 card with $6500 CLI and 4.6 yrs and 2 new credit accounts on my report.

 

I got annoyed and applied for an Amex Bus CC, Wells Personal CC, Sofi personal loan and BofA Personal CC in that order which hit my Experian side only.

 

Sofi had me at a rate of 9.163% (Autopay) at 4 years for $12,500 in the initial pre-qual before I pulled the trigger on Experian with that credit spree.

 

After the inquiry, I was offered a new rate of 10.788% (Autopay) at 4 years for $12,500 based on a credit score of 767.

 

The only documents I had to upload where my Drivers License and I was told to log into my bank account  through their system so they could have a source to deposit the funds.

 

Applied 07/08/2019 and was told my loan was funded on 07/09/2019 and will be deposited with 48hrs or less into my bank account.

 

I actually emailed the CEO of Sofi (today) and an Executive customer service representative got to me within an hour, to answer my questions and state, SOFI reports to all 3 Credit Bureaus Equifax, Experian and Transunion and its reported as unsecure installment loan.

 

A chat rep also verified what the Executive has stated as I had just gotten off the chat when the Executive called me. 

 

Pretty amazing personal loan experience from SOFI.

 

Sofi.JPG

 

EQ 812 / TU 802 / EX 818 (Before the credit sprees will update soon)
4 REPLIES 4
Frequent Contributor

Re: Amazing Sofi loan approval and correct information vs whats out there

Update Money has been deposited into my account Crazy quick process
EQ 812 / TU 802 / EX 818 (Before the credit sprees will update soon)
Message 2 of 5
Frequent Contributor

Re: Amazing Sofi loan approval and correct information vs whats out there

Congrats.  Did you look in to LightStream?  Their rates are in the 4s and money is deposited within a few hours.

| BofA Premium Rewards $65k | BofA BankAmericard $30k | Amex Zync $5k | Amex ED $25k | Amex CashMagnet $20K | Amex Gold $45k POT | Amex Platinum | NFCU CR $17k | Discover it CB $15k | Capital One QS $5k |
Utilization 1% | AAOA 2yrs, 3months |



July 2019 - EQ8: 801 | EX8:804 | TU8: 814
Message 3 of 5
Highlighted
Frequent Contributor

Re: Amazing Sofi loan approval and correct information vs whats out there


@FicoGuy2019 wrote:

Congrats.  Did you look in to LightStream?  Their rates are in the 4s and money is deposited within a few hours.

 

Trust me I looked everywhere for a personal loan and pre-qualed on all sites only to get denied for lack of credit history due to me only having 1 Cap1 card and only 4.5 yrs of history and credit scores of 800+. Im grateful for Sofi giving me a chance, all the others can go on the never go there and apply site. 


 

EQ 812 / TU 802 / EX 818 (Before the credit sprees will update soon)
Message 4 of 5
Frequent Contributor

Re: Amazing Sofi loan approval and correct information vs whats out there


@FenderGuy wrote:

@FicoGuy2019 wrote:

Congrats.  Did you look in to LightStream?  Their rates are in the 4s and money is deposited within a few hours.

 

Trust me I looked everywhere for a personal loan and pre-qualed on all sites only to get denied for lack of credit history due to me only having 1 Cap1 card and only 4.5 yrs of history and credit scores of 800+. Im grateful for Sofi giving me a chance, all the others can go on the never go there and apply site. 


 


Gotcha...well, still nice to be approved so congrats!  Be good to sofi and they will be good to you in the future.

| BofA Premium Rewards $65k | BofA BankAmericard $30k | Amex Zync $5k | Amex ED $25k | Amex CashMagnet $20K | Amex Gold $45k POT | Amex Platinum | NFCU CR $17k | Discover it CB $15k | Capital One QS $5k |
Utilization 1% | AAOA 2yrs, 3months |



July 2019 - EQ8: 801 | EX8:804 | TU8: 814
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.